Wednesday, January 2, 2008

Sentido.tv :: 2008 will be a year in which the integrity of election processes, the quality and resilience of cultivated soils, the availability of credit to consumers, the affordability of homes and rentals, and access to affordable vital staples like food and water, as well as the cost of transportation, will affect economies the world over. Some economic analysts have said the combination of these factors, resulting instability or environmental degradation, and migration of affected populations, could mean the world is facing an unprecedented level of economic precariousness.

2007 saw prices of commodities, ranging from grains, to metals to petroleum, skyrocket, with mining giants like Río Tinto tripling their stock value, and the price of bread in Mediterranean countries like Spain, jumping 40%. The Earth Policy Institute reports that world grain stocks are at an all-time record low, with only about 54 days of consumption available in case of crop failure or demand-driven scarcity. Drinkable water is also frighteningly scarce, with overpumping of fossil aquifers already beyond sustainable and on the rise. [Complete Text]